Research Analysts’ Weekly Ratings Changes for Salem Media Group (SALM)

A number of research firms have changed their ratings and price targets for Salem Media Group (NASDAQ: SALM):

  • 8/16/2019 – Salem Media Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Salem Media Group, Inc. is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. Its operating segment consists of Broadcast, Digital Media and Publishing. Broadcasting segment is engaged in the ownership and operation of radio stations in metropolitan markets. Digital Media segment focuses on Web-based platform designed. Publishing segment consists of Regnery Publishing, Xulon Press and Salem Publishing. Salem Media Group, Inc., formerly known as Salem Communications Corporation, is headquartered in Camarillo, California. “
  • 8/14/2019 – Salem Media Group had its “buy” rating reaffirmed by analysts at Noble Financial. They now have a $3.25 price target on the stock.
  • 8/10/2019 – Salem Media Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Salem Media Group, Inc. is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. Its operating segment consists of Broadcast, Digital Media and Publishing. Broadcasting segment is engaged in the ownership and operation of radio stations in metropolitan markets. Digital Media segment focuses on Web-based platform designed. Publishing segment consists of Regnery Publishing, Xulon Press and Salem Publishing. Salem Media Group, Inc., formerly known as Salem Communications Corporation, is headquartered in Camarillo, California. “
  • 8/1/2019 – Salem Media Group was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/2/2019 – Salem Media Group was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.

NASDAQ:SALM traded up $0.01 during trading hours on Tuesday, hitting $1.69. 1,600 shares of the company traded hands, compared to its average volume of 81,985. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 1.33. The firm’s 50-day simple moving average is $2.12 and its 200-day simple moving average is $2.36. Salem Media Group Inc has a one year low of $1.65 and a one year high of $4.24. The company has a market cap of $44.98 million, a PE ratio of 18.78 and a beta of 1.54.

In other Salem Media Group news, CFO Evan D. Masyr sold 11,970 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.11, for a total transaction of $25,256.70. Following the transaction, the chief financial officer now directly owns 23,068 shares in the company, valued at approximately $48,673.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 34,108 shares of company stock worth $76,116. Company insiders own 55.66% of the company’s stock.

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Salem Media Group by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 365,676 shares of the company’s stock worth $889,000 after purchasing an additional 9,302 shares during the period. Renaissance Technologies LLC raised its stake in shares of Salem Media Group by 19.9% during the 2nd quarter. Renaissance Technologies LLC now owns 192,598 shares of the company’s stock worth $468,000 after purchasing an additional 32,000 shares during the period. Acadian Asset Management LLC raised its stake in shares of Salem Media Group by 52.9% during the 2nd quarter. Acadian Asset Management LLC now owns 63,327 shares of the company’s stock worth $153,000 after purchasing an additional 21,922 shares during the period. Bailard Inc. raised its stake in shares of Salem Media Group by 102.5% during the 2nd quarter. Bailard Inc. now owns 57,309 shares of the company’s stock worth $139,000 after purchasing an additional 29,009 shares during the period. Finally, OneAscent Financial Services LLC bought a new stake in shares of Salem Media Group during the 2nd quarter worth $91,000. Institutional investors and hedge funds own 22.63% of the company’s stock.

Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

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